The Medicines Company (MDCO) Receives Consensus Rating of “Buy” from Brokerages

Shares of The Medicines Company (NASDAQ:MDCO) have received an average rating of “Buy” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $55.88.

A number of brokerages have weighed in on MDCO. Citigroup Inc. decreased their target price on shares of The Medicines from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. Cowen and Company reiterated a “buy” rating and set a $54.00 target price (down from $61.00) on shares of The Medicines in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $50.00 target price on shares of The Medicines and gave the company a “hold” rating in a research note on Wednesday, October 4th. Chardan Capital reiterated a “buy” rating and set a $85.00 target price on shares of The Medicines in a research note on Wednesday, September 20th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $54.00 target price (down from $62.00) on shares of The Medicines in a research note on Thursday, August 10th.

Shares of The Medicines (MDCO) traded down 0.09% during trading on Thursday, reaching $34.51. The company’s stock had a trading volume of 343,301 shares. The firm’s 50-day moving average price is $36.02 and its 200-day moving average price is $40.31. The company’s market capitalization is $2.48 billion. The Medicines has a one year low of $30.80 and a one year high of $55.95.

The Medicines (NASDAQ:MDCO) last announced its earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($4.23). The company had revenue of $18.74 million for the quarter, compared to analysts’ expectations of $29.64 million. The Medicines had a negative net margin of 670.46% and a negative return on equity of 137.20%. The Medicines’s quarterly revenue was down 65.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.62) earnings per share. On average, equities analysts anticipate that The Medicines will post ($9.66) earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. FMR LLC grew its position in shares of The Medicines by 1.1% during the 2nd quarter. FMR LLC now owns 10,825,038 shares of the company’s stock valued at $411,460,000 after acquiring an additional 117,982 shares during the period. Vanguard Group Inc. grew its position in shares of The Medicines by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 6,090,730 shares of the company’s stock valued at $297,837,000 after acquiring an additional 313,876 shares during the period. Iridian Asset Management LLC CT grew its position in shares of The Medicines by 21.7% during the 2nd quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock valued at $139,791,000 after acquiring an additional 655,065 shares during the period. State Street Corp grew its position in shares of The Medicines by 9.0% during the 2nd quarter. State Street Corp now owns 2,220,199 shares of the company’s stock valued at $84,391,000 after acquiring an additional 183,086 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in shares of The Medicines by 947.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 2,031,359 shares of the company’s stock valued at $77,212,000 after acquiring an additional 1,837,359 shares during the period.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2017/10/28/the-medicines-company-mdco-receives-consensus-rating-of-buy-from-brokerages.html.

About The Medicines

The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).

Analyst Recommendations for The Medicines (NASDAQ:MDCO)

Receive News & Ratings for The Medicines Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply